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Feb 3, 2010
02/10
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bernanke. >> no. he was appointed by bush. i'm not a fan of bush. if you want to compare it, obama's worse, but neither was good. >> michael, let me ask you this. >> clinton was spectacular. >> let me ask you this question. we need capital, jobs and labour d day. do you agree? >> i do. >> why raise the tax rates on capital which is what you are doing with top end investors and workers? why not promote more capital to promote more labor? i would lower the payroll tax rate or the 28% rate and maybe the 15% income tax. in other words, isn't this a moment when we want the liquidity to stay in the private sector and all the incentives for growth we can get? >> larry, we need to bring down the deficit. you agree with that, we all agree. the long-term deficits which are not driven by a major spending growth under president obama. they are driven by long-term trends -- >> mr. obama hasn't raised spending? >> most of the new spending that happened in 2009 happened under president bush. >> did i miss the $850 billion stimulus -- >> it was -- larry, it was $80
bernanke. >> no. he was appointed by bush. i'm not a fan of bush. if you want to compare it, obama's worse, but neither was good. >> michael, let me ask you this. >> clinton was spectacular. >> let me ask you this question. we need capital, jobs and labour d day. do you agree? >> i do. >> why raise the tax rates on capital which is what you are doing with top end investors and workers? why not promote more capital to promote more labor? i would lower the...
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Feb 25, 2010
02/10
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CNBC
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>> i'm going to be talking about bernanke. . i think becky's selling it short saying it's a repeat performance. i like yours better. >> how am i selling this short? >> i don't i think it's a repeat in that it's the same thing. >> you think he's going to make news and say something different? >> it's a little different. he heads into day two of the testimony today. it's the sem any annual testimony to congress. he delivered a clear message on rates yesterday. they will stay low for several months. overlooked in that testimony yesterday, and sure to get more attention today, beck y was fed chairman's pitch to keep the fed as a major banking regulator. the senate is considering stripping those powers as part of a broader overhaul of the banking powers now in the state. >> the crisis has once again done straighted the federal reserve's ability to identify and address diverse and hard to predict threats to financial stability, depends critically on the information, expertise and powers that it has by virtue of being both a bank super
>> i'm going to be talking about bernanke. . i think becky's selling it short saying it's a repeat performance. i like yours better. >> how am i selling this short? >> i don't i think it's a repeat in that it's the same thing. >> you think he's going to make news and say something different? >> it's a little different. he heads into day two of the testimony today. it's the sem any annual testimony to congress. he delivered a clear message on rates yesterday. they...
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Feb 26, 2010
02/10
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CSPAN2
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thank you, chairman bernanke, for being here. i do share one concern that senator vitter mentioned about the deficit. gosh, i wish we would have supported senator gregg's proposal when we had a chance, i think it was still the best, perhaps last-best proposal to actually force this congress to take an up or down vote on a plan that would put us back into fiscal sanity. i'm going to come back on the question of financial regulation. .. >> one of the comments you made and we are now 18 months after the crisis and you've said you have looked at the fed within supervision of the bank holding companies stronger capital, stronger risk supervision. you know, we've had a lot of discussion over the last 18 months about size. we've talked a bit earlier, senator raise questions about the volcker rule. i share some of your concerns about how you draw those lines. chairman dodd raise the question about using some of the intimate out there in terms of derivatives. can you tell us a little bit in his last 18 months with this increased focus on
thank you, chairman bernanke, for being here. i do share one concern that senator vitter mentioned about the deficit. gosh, i wish we would have supported senator gregg's proposal when we had a chance, i think it was still the best, perhaps last-best proposal to actually force this congress to take an up or down vote on a plan that would put us back into fiscal sanity. i'm going to come back on the question of financial regulation. .. >> one of the comments you made and we are now 18...
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Feb 24, 2010
02/10
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MSNBC
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by then treasury secretary hank paulson and ben bernanke. t.a.r.p. was supposed to be used to counter the mortgage crisis, not to bail out the big banks. do you believe mccain was misled? >> no, i don't, monica. the night before on nbc nightly news, you may remember john yang had a record that feerchbd john mccain saying because of his experience, he was best equipped to rhett republic arizona. now, in western inventory knack ewe lar, this ain't john's first rodeo. when he suspended his campaign to go back to washington to sit face-to-face with those decisionmakers, now a couple years later, he's telling us he was misled? i have to tell you, this is isn't revision of history. that sounds more like john kerry in 2004 than the john mccain i used to work with. >> and the mccain camp is attacking your spending record. they have a radio ad saying you talk like a conservative, but you spend like a liberal. they're citing your vote for the bridge to nowhere. you supported the 2003 medicare prescription drug benefit. what do you think of those ads? what do y
by then treasury secretary hank paulson and ben bernanke. t.a.r.p. was supposed to be used to counter the mortgage crisis, not to bail out the big banks. do you believe mccain was misled? >> no, i don't, monica. the night before on nbc nightly news, you may remember john yang had a record that feerchbd john mccain saying because of his experience, he was best equipped to rhett republic arizona. now, in western inventory knack ewe lar, this ain't john's first rodeo. when he suspended his...
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. >>> ben bernanke has been sworn in for a second term as chairman of the federal reserve. bernanke vowed to preserve the fed's independence, despite a move in congress to tighten control over the central bank. >>> and preparing for a snowy weekend from 1 inch in new york to almost 2 feet in baltimore. meteorologist rob marciano tracking this massive winter storm. what's going on. feast appetizer. [dinner bell chimes] high quality ingredients like wild alaskan salmon in a delicate broth, without by-products or fillers. fancy feast appetizers. celebrate the moment. in the north of england to my new job at the refinery in the south. i'll never forget. it used one tank of petrol and i had to refill it twice with oil. a new car today has 95% lower emissions than in 1970. exxonmobil is working to improve cars, liners of tires, plastics which are lighter and advanced hydrogen technologies that could increase fuel efficiency by up to 80%. >[t:p][n:e plastics which are lighter and advanced hydrogen technologies announcer: the smallest moments can have the biggest impact on a child'
. >>> ben bernanke has been sworn in for a second term as chairman of the federal reserve. bernanke vowed to preserve the fed's independence, despite a move in congress to tighten control over the central bank. >>> and preparing for a snowy weekend from 1 inch in new york to almost 2 feet in baltimore. meteorologist rob marciano tracking this massive winter storm. what's going on. feast appetizer. [dinner bell chimes] high quality ingredients like wild alaskan salmon in a...
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Feb 26, 2010
02/10
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bernanke and his loose money policy. but the question i would like to ask, does the fed relies the terribly destructive impact you have had on sabrevers in this country by reducing interest rates, waliñrfraudsters in this country are being rewarded? guest: i understand your frustration and one thing we're looking at is how to bring interest rates back to a long- term sustainable level from the extremely low levels. and there are differing views. i do share a different view. i think we should go back to a more normal level sooner rather than later, as i've said in my public speeches. and i think -- you know, my concern is in terms of the last time i voted, i voted on the usage of the word "extended period" because i think the economy will continue to improve modestly. we will be ableÑiçto move back o more normal rates sooner rather than later. and i do not consider necessarily our interest to ensure the markets that rates will yield play because that has the effect that also invites and sometimes excite speculative act
bernanke and his loose money policy. but the question i would like to ask, does the fed relies the terribly destructive impact you have had on sabrevers in this country by reducing interest rates, waliñrfraudsters in this country are being rewarded? guest: i understand your frustration and one thing we're looking at is how to bring interest rates back to a long- term sustainable level from the extremely low levels. and there are differing views. i do share a different view. i think we should...
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Feb 13, 2010
02/10
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CNN
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bernanke, if he has two patients, the one with a positive attitude does better. >> i agree with dr. bernanke, but stress does cause your arteries to con strict, it ka cause the arteries to build up faster, it can cause blood clots to form that causes a heart attack, that's the bad news. but stress is not simply something you do, more importantly it's how you react to what you do. if you practice some simple stress management techniques, you can be in the same job, you can go to haiti, and not have it affect it. you can accomplish even more without getting so stressed and without getting sick in the process. >> larry: sanjay, do you understand why the president is so passionate about haiti? >> he's had an affinity for this place for a long time, larry. i interviewed him when he was down here and talked about haiti with him a few times in the past. he had his honeymoon here, as i know you've talked about, larry, so he's been thinking about haiti for a long time. i think he has a strong affinity not only to haiti but to the haitian people living in haiti and the united states, and he's
bernanke, if he has two patients, the one with a positive attitude does better. >> i agree with dr. bernanke, but stress does cause your arteries to con strict, it ka cause the arteries to build up faster, it can cause blood clots to form that causes a heart attack, that's the bad news. but stress is not simply something you do, more importantly it's how you react to what you do. if you practice some simple stress management techniques, you can be in the same job, you can go to haiti, and...
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Feb 24, 2010
02/10
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ben bernanke, the chairman for the federal reserve goes to capitol hill this morning. lawmakers will question him on what he can or will the to ease the jobs crisis and make sure the economic crisis -- economic recovery lasts. you can hear the first hour on c-span radio. there is a new study showing hispanics at high-level staff positions in capitol hill are almost nonexistent. this is in spite of the fact that they make up nearly 1/6 of the u.s. population. a of a hundred senate chief of staff, only one is hispanic. there is no hispanic legislative directives -- directors and only one hispanic staff director. hispanics only hold 12 of the roughly for a 40 chief of staff jobs and only nine legislative director slots. -- 140 chief of staff jobs and only nine legislative director slots. some say that is an outrage. the european union wants to halt all executions by 2015 as a step towards abolishing the death penalty. the prime minister did not know how the eu would persuade countries like the united states, china, and i went to change their laws. he was to set up an inte
ben bernanke, the chairman for the federal reserve goes to capitol hill this morning. lawmakers will question him on what he can or will the to ease the jobs crisis and make sure the economic crisis -- economic recovery lasts. you can hear the first hour on c-span radio. there is a new study showing hispanics at high-level staff positions in capitol hill are almost nonexistent. this is in spite of the fact that they make up nearly 1/6 of the u.s. population. a of a hundred senate chief of...
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Feb 4, 2010
02/10
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bernanke does testify regularly on capitol hill explaining what he is doing, and why he is affecting monetary policy the way he is. some, like milton friedman, have suggested that we could replace federal reserve with a computer that could determine these interest-rate formulas. perhaps that would be better. federal reserve policy can be subject to certain criticism. i do not hoknow how we would do this. there is disagreement on the way they have handled the recession, and that is fair. host: another tweet -- guest: $3 trillion of the deficit? over the next 10 years, if we expended all the tax cuts, for everyone, that would be about $3 trillion. the deficit is much bigger than that. the base line is $11 trillion. if you got rid of all the tax cuts, we would still have and $8 trillion deficit over the next 10 years. president obama is not talking about doing that. only for those making more than $250,000 a year. that is only 1/5 of the tax cuts. if you want to get rid of "tax cuts for the rich" it is over $16 billion from a deficit of $11 trillion. for those who believe that is good p
bernanke does testify regularly on capitol hill explaining what he is doing, and why he is affecting monetary policy the way he is. some, like milton friedman, have suggested that we could replace federal reserve with a computer that could determine these interest-rate formulas. perhaps that would be better. federal reserve policy can be subject to certain criticism. i do not hoknow how we would do this. there is disagreement on the way they have handled the recession, and that is fair. host:...
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Feb 25, 2010
02/10
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accordingly the house stands >> ben bernanke testifies about the economy and monetary policy. now, secretary lahood. this part of the hearing is 50 minutes. >> let me just raise a couple of questions with you very quickly. the committee has reviewed thousands of complaints regarding sudden acceleration in the toyota vehicles. before the crash thatñossÑçkçñar membersÑiñr of at( family in aut "tsjutÑ. ñrmy questionÑi is, why did it e jjtxdñrÑi to act? &Ñignz+:çóx@%ylñx].sÑiñr why did it take them so long to act? >> mr. chairman, i would say this. i have been in the job more than a year. prior to my time which would have been prior to january 23rd of '09, if there issues i can't answer, i will get back to you for the record. i will tell you this, 30,000 complaints come to nh tsa every year and we look at every one of them. we think every one is important. some come from people who are driving cars and some come from the industry. we look at what's going on from stakeholders and people in the automobile business. sometimes they file complaints with us. then when
accordingly the house stands >> ben bernanke testifies about the economy and monetary policy. now, secretary lahood. this part of the hearing is 50 minutes. >> let me just raise a couple of questions with you very quickly. the committee has reviewed thousands of complaints regarding sudden acceleration in the toyota vehicles. before the crash thatñossÑçkçñar membersÑiñr of at( family in aut "tsjutÑ. ñrmy questionÑi is, why did it e jjtxdñrÑi to act?...
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Feb 5, 2010
02/10
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>> i want to say ben bernanke. >> reporter: who is this guy? >> looks like a crook. >> reporter: he looks like a crook? >> yeah. >> reporter: why? >> he just got that look about him, man, about to take everything you own. >> reporter: who is this man? >> dr. phil. >> i think it's raj -- >> reporter: raj rajasa? >> yeah. >> reporter: who is this man? >> what country is dubai in? >> i know it's in an expensive area, i know that. i don't know. it's over there. >> reporter: over there? >> across the way. >> say it slowly. united arab emirates. >> reporter: how much is $1,000 worth of gold worth? >> $1,000 worth of gold? $1,000. >> reporter: $1,000 worth of gold is probably worth $1,000, right? >> no, more than that. >> reporter: $1,000 of gold is worth more than $1,000 of gold? >> gold is up right now. >> reporter: what is the interest rate in the country right now, what%? >> 50. >> 38. >> 38. >> 38. >> reporter: lower. >> 28. >> reporter: lower. >> 18? 8? >> reporter: higher. >> 11. >> reporter: lower. >> 10. >> reporter: yes. >> wow. what everybo
>> i want to say ben bernanke. >> reporter: who is this guy? >> looks like a crook. >> reporter: he looks like a crook? >> yeah. >> reporter: why? >> he just got that look about him, man, about to take everything you own. >> reporter: who is this man? >> dr. phil. >> i think it's raj -- >> reporter: raj rajasa? >> yeah. >> reporter: who is this man? >> what country is dubai in? >> i know it's in an...
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Feb 25, 2010
02/10
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murphy: in today's news, chairman of the federal reserve, ben bernanke, says there is a risk for high interest rates and high inflation. borrowing from china and buying huge amounts of oil from opec and we have to realize we have a mess in our hands but there is a solution. we can create jobs and grow our economy without raising taxes. it's a bipartisan american conservation and clean energy independence act, h.r. 2227. this bill uses the trillions of dollars from oil and gas exploration off or coasts, drive conservation and new technologies to improve energy efficiency, develop clean energy generation and infrastructure, rebuild america's independent transportation system and clean our air and water. and not only will we create a clean energy future but create good-paying jobs for years to come. the news tells us how they are but that's not how it has to be. join me in supporting the clean energy and conservation act. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose does the gentleman rise? >> to address the house for one minu
murphy: in today's news, chairman of the federal reserve, ben bernanke, says there is a risk for high interest rates and high inflation. borrowing from china and buying huge amounts of oil from opec and we have to realize we have a mess in our hands but there is a solution. we can create jobs and grow our economy without raising taxes. it's a bipartisan american conservation and clean energy independence act, h.r. 2227. this bill uses the trillions of dollars from oil and gas exploration off or...
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Feb 27, 2010
02/10
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bernanke and his loose money policy. but the question i would like to ask, does the fed relies the terribly destructive impact you have had on sabrevers in this country by reducing interest rates, waliñrfraudsters in this country are being rewarded? guest: i understand your frustration and one thing we're looking at is how to bring interest rates back to a long- term sustainable level from the extremely low levels. and there are differing views. i do share a different view. i think we should go back to a more normal level sooner rather than later, as i've said in my public speeches. and i think -- you know, my concern is in terms of the last time i voted, i voted on the usage of the word "extended period" because i think the economy will continue to improve modestly. we will be ableÑiçto move back o more normal rates sooner rather than later. and i do not consider necessarily our interest to ensure the markets that rates will yield play because that has the effect that also invites and sometimes excite speculative act
bernanke and his loose money policy. but the question i would like to ask, does the fed relies the terribly destructive impact you have had on sabrevers in this country by reducing interest rates, waliñrfraudsters in this country are being rewarded? guest: i understand your frustration and one thing we're looking at is how to bring interest rates back to a long- term sustainable level from the extremely low levels. and there are differing views. i do share a different view. i think we should...
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Feb 27, 2010
02/10
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bernanke looks closer to getting his way after what has been a fraught few months. calls the fed to -- host: chat mooga, tennessee, next on our republican line. laurie. caller: hi. i want to comment about the bipartisanship that i see a great deal of in washington and that seems to be that everybody is in agreement 100% on sucking up to their, to the people that spend the money on them, to get them voted in the office and everybody seems to be completely bipartisan on the fact that they're up there to look after their own skin and not the american people. and as far as trying to agree with somebody on the other side of the aisle just for the sake of being called bipartisan, where's your conviction? it doesn't matter whether you're republican or democrat, independent or whatever. if you've got conviction, stick with them. do what's right for america. not what's right for your party. not what's right for the people who paid to get you in office. and that's about all i have to say. host: orange county, creativity. kalee on our democrats line. caller: i'm a democrat who
bernanke looks closer to getting his way after what has been a fraught few months. calls the fed to -- host: chat mooga, tennessee, next on our republican line. laurie. caller: hi. i want to comment about the bipartisanship that i see a great deal of in washington and that seems to be that everybody is in agreement 100% on sucking up to their, to the people that spend the money on them, to get them voted in the office and everybody seems to be completely bipartisan on the fact that they're up...
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Feb 3, 2010
02/10
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MSNBC
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. >>> ben bernanke. >> yes. >> who oversaw the collapse of not only the united states, but pretty much the entire world financial system. >> right. >> and brought our economy to its knees has been reappointed as head of the fed. >> right. >> does this give you hope for being re-elected governor of new york? because may i remind you, he screwed everybody. >> wow. >> eliot spitzer taking shots from colbert last night. here with us now, founder, editor of thedailybeast.com, tina brown. >> good morning, everyone. >> great to see you. we'll get to your explosive piece about andrew young. have you quite a bit to say about john edwards' body man. we may have to bleep that. but first, maureen dowd's don't ask, don't tell op-ed. she writes in part -- tinea it was a pretty remarkable day on capitol hill. >> i thought it was pretty believing. very moving indeed. one does ask whether it will ignite a cultural war thing and distract. that's the only thing that scares me, we do need to be focused on jobs now. the timing seems strange. but having said that, it was a moving moment. it is obscene we ha
. >>> ben bernanke. >> yes. >> who oversaw the collapse of not only the united states, but pretty much the entire world financial system. >> right. >> and brought our economy to its knees has been reappointed as head of the fed. >> right. >> does this give you hope for being re-elected governor of new york? because may i remind you, he screwed everybody. >> wow. >> eliot spitzer taking shots from colbert last night. here with us now,...
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Feb 26, 2010
02/10
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ben bernanke, by the esteemed mr. representative ron paul, who wants to audit the fed -- something you will be humanly go against, which we can understand. you are a bank. if you go into a bank and audit and find things that do not add up, you try to fix it. host: we got the point. ron paul, etc.. guest: i get these questions often. it is interesting, the misinformation that comes forward from this kind of a call. let me explain first of all -- representative paulñr has every right to his views. he calls it "the fed, but it is really and the fed -- he calls it autit the fed, but it is really end the fed. the fed is audited by the government accounting office, or the government accountability office. it is audited by a major auditing firm. it is audited by the treasury. our bank is examined by the board of governors. so there is an enormous amount of auditing that goes on within the federal reserve. exceptions are found, we are held accountable for that and we correct them. in terms of allegations against the chairman
ben bernanke, by the esteemed mr. representative ron paul, who wants to audit the fed -- something you will be humanly go against, which we can understand. you are a bank. if you go into a bank and audit and find things that do not add up, you try to fix it. host: we got the point. ron paul, etc.. guest: i get these questions often. it is interesting, the misinformation that comes forward from this kind of a call. let me explain first of all -- representative paulñr has every right to his...
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Feb 17, 2010
02/10
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bernanke does not want to step up and -- i think mr. bernanke, unfortunately, does not want to step up and take responsibility. i think the administration put a good deal of capital to work to make sure that he stayed on as chairman of the fed. but honestly, it would require presidential leadership at this point. we see encouraging signs, but also discouraging signs. the president said nice things about big bankers and their compensation just last week. you have to ask the white house where we are on this issue. host: simon johnson is the author of an upcoming book, "13 bankers." when will this come out? guest: when wilthe end of march. i do not think this problem is going to go away anytime soon. host: wyoming, republican line. caller: i would just like to say a few things and please do not cut us off because we do not get a chance to get in as many times as the democrats and the independent line. i'm a conservative woman of color. i notice every time on c-span and i get to be disappointed. and i will get to my question. i notice a tal
bernanke does not want to step up and -- i think mr. bernanke, unfortunately, does not want to step up and take responsibility. i think the administration put a good deal of capital to work to make sure that he stayed on as chairman of the fed. but honestly, it would require presidential leadership at this point. we see encouraging signs, but also discouraging signs. the president said nice things about big bankers and their compensation just last week. you have to ask the white house where we...
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Feb 24, 2010
02/10
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CNN
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lots of questions for bernanke as he discusses the economy in front of congress. larry summers said it's a statistical recovery but a human recession. that pretty much writes off 2010. >> we talk a lot too about residential home foreclosure but we haven't talked much about commercial property foreclosure. >> tick, tick, tick. a lot of people say that's a time bomb. we know the volume of banks preparing for what the commercial real estate problems will likely see later this year and next year. >> let's hope the new normal doesn't last too long. >>> coming up, forced to resign under a cloud of controversy, president obama's former green jobs czar now being honored by the naacp. suzanne malveaux talks about the new controversy that this is bound to create. geico says 15 minutes could save you money. but it takes less than 15 seconds to tell you this. drivers who switched from geico to allstate... saved an average of $473 a year. time to switch to allstate. ♪ and you have a heart attack. that's what happened to me. they said the quick thinking of chewing an aspirin
lots of questions for bernanke as he discusses the economy in front of congress. larry summers said it's a statistical recovery but a human recession. that pretty much writes off 2010. >> we talk a lot too about residential home foreclosure but we haven't talked much about commercial property foreclosure. >> tick, tick, tick. a lot of people say that's a time bomb. we know the volume of banks preparing for what the commercial real estate problems will likely see later this year and...
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Feb 17, 2010
02/10
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i expected, i knew when we went up there is a scene in the book talking bernanke and chris cox and said we will meet these authorities. the difficulty we had has warned said much better, the arteries in the financial system more for using up. so i knew with a certainty business would turn down. when you have companies it is uncertain if they can raise short-term funding, most cfo's will say boss, i'm not be able to handle the funding you like for the next 30 day said they start cutting back. but congress had not seen this yet. not in their districts. so i knew with a certainty it would get worse. i am not sure i knew it would be 10% unemployment but i knew it would be bad. minute if they didn't do something, and it collapsed, then the business is could not find themselves are paid for inventories and pay suppliers and let employees go and that would ripple through and we would have armageddon. so when the economy did turn down, we have a terrible situation as congress sought bids because they saw it as the american people but we said give us the use of 30's and if you don't, we will be
i expected, i knew when we went up there is a scene in the book talking bernanke and chris cox and said we will meet these authorities. the difficulty we had has warned said much better, the arteries in the financial system more for using up. so i knew with a certainty business would turn down. when you have companies it is uncertain if they can raise short-term funding, most cfo's will say boss, i'm not be able to handle the funding you like for the next 30 day said they start cutting back....
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Feb 17, 2010
02/10
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we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the money market funds saved. if we have 3.5 trillion fun missile by 30 million people who on is and they might are worrying about whether they can get their money that was half of all the process held by u.s. banks at the time you have a panic. you had commercial paper frees up entirely in the biggest companies of the united states and some are described in this book that worried whether they were going to meet their payroll and a short period of time to read the sixth largest bank in the country in terms of the domestic deposits, washington mutual failed over a weekend. y
we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the...
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Feb 10, 2010
02/10
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host: a couple other items, business section of "new york times," that ben bernanke has survived a challenge to his second term as chairman, and faces the delicate task of beginning to pull the central bank out of its extraordinary situation. guest: the economy through the fall of 2008 and through last year, in an effort to help banks and credit markets and to prevent the financial system from imploding. they did that by lower the interest rates, and now they have to pull that back. they have to pull the federal reserves investments in the economy back. and they have to do that carefully because they don't want to cause problems in doing so, which is something that could happen. it will be delicate. markets are watching when this will happen. if he doesn't do it right, you will see plunges in stock values. host: what is the update? guest: last week senate dodd announced he was at an impasse with senator shelby, and it's not a good sign. there are some republicans who said they were committed to get a bill. one thing to watch is bob corker, a new senator from tennessee, he's working with mark
host: a couple other items, business section of "new york times," that ben bernanke has survived a challenge to his second term as chairman, and faces the delicate task of beginning to pull the central bank out of its extraordinary situation. guest: the economy through the fall of 2008 and through last year, in an effort to help banks and credit markets and to prevent the financial system from imploding. they did that by lower the interest rates, and now they have to pull that back....
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Feb 17, 2010
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we might not remember this because we probably didn't keep track of everything that paulson and bernanke and george bush did, but lehman falls on september 15. then what we have on september 23, the chairman of the federal reserve and the secretary of treasury come into congress and they testify that they need $700 billion. they have a 2 1/2-page bill. they don't know what they're going to do with the money. but if you don't give it to them, it's world is going to end. that makes you uncomfortable if you're deciding what to do with your investment. not only that, but the next day, the president of the united states comes on national television and says the following, speaking to the american people to get them calmed down a little bit. he said financial assets related to home mortgages have lost value during the housing decline and the banks holding these assets have restricted credit. as a result, our entire economy is in danger. so i propose that the federal government reduce the risk posed by these trouble assets and supply urgently needed money so banks and other financial institutio
we might not remember this because we probably didn't keep track of everything that paulson and bernanke and george bush did, but lehman falls on september 15. then what we have on september 23, the chairman of the federal reserve and the secretary of treasury come into congress and they testify that they need $700 billion. they have a 2 1/2-page bill. they don't know what they're going to do with the money. but if you don't give it to them, it's world is going to end. that makes you...
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Feb 5, 2010
02/10
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according to chairman bernanke of the federal reserve, ben own proprietary trading for commercial banks may not be constructive. dr. summers, chief economic advisor in the current administration in the past has been a vocal proponent removing glass-steagall restraints. is there something in this obama administration and among the regulators concerning the volcker rule and restricting size and if so, what process -- what was expressed there? >> thank you, senator shelby. that's obviously a very important question. the proposals that the president articulated with respect to size and scope two weeks ago were ones that were based on a consensus recommendation of all of his economic team. so -- and i think you've heard secretary geithner and director summers speak to that quite directly. i think with respect to the regulators they are, of course, independent and i feel slightly less comfortable expressing their views. but i do think that in the main they are also supportive of this and we will work with them and obviously with this committee to try to move these ideas forward as an importan
according to chairman bernanke of the federal reserve, ben own proprietary trading for commercial banks may not be constructive. dr. summers, chief economic advisor in the current administration in the past has been a vocal proponent removing glass-steagall restraints. is there something in this obama administration and among the regulators concerning the volcker rule and restricting size and if so, what process -- what was expressed there? >> thank you, senator shelby. that's obviously a...
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Feb 2, 2010
02/10
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i said --ç and i remembered s@iing this to bernanke -- i believe for theç denning wall . you guys and your friends and wall street caused the problem. even if you think the ballot as necessary, i tell you what to do. go back to the richest and saying we are putting a surtax on millionaires and billionaires to pay for the bailout. that was my view. xd and iç think what michael is talking about, there was huge frustration and anger in this countryq that government has worked to protect the interest of wall street whileç ignoring- çkow3michael talkingi] about tt that he is a father tried to send kids through college. we are putting more money into programs but we have a lot more to do. i think what people are saying and crying out for, what about us. we are working 50 or 60ç hoursa week, start worrying about us and not just the big money interests. i (jjtjr host: senator bernie sanders, thank you for coming on "washington journal." we will take a short break and will become that the discussion regarding the economy and the latinoç community but the president of la
i said --ç and i remembered s@iing this to bernanke -- i believe for theç denning wall . you guys and your friends and wall street caused the problem. even if you think the ballot as necessary, i tell you what to do. go back to the richest and saying we are putting a surtax on millionaires and billionaires to pay for the bailout. that was my view. xd and iç think what michael is talking about, there was huge frustration and anger in this countryq that government has worked to protect the...
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Feb 11, 2010
02/10
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bernanke we forced their stearns shareholders from a position that i think was a high of $170 a share in january. we force them down to $2 a share because the american taxpayer money was in the bailout. and that was something that was supported by the fed, by treasury because we felt that because the taxpayer was bailing them out, that the shareholders of bear stearns should not be held harmless. now, you have a different situation here, slightly different. a number of weeks later, where we have aig going under, and these are credit default swaps so the money going into aig is going right out to the counterparties. this is a pass through and the folks on the other side are goldman sachs. that is the principle beneficiary of all this. and we don't negotiate in nickel, not a sense of what they are getting. you are in the same position. you are supposed to be negotiating on behalf of the american people. you were saying the regulations were different. let me tell you something we were changing the rules and regulations every single day. we were taking action under extraordinary circumsta
bernanke we forced their stearns shareholders from a position that i think was a high of $170 a share in january. we force them down to $2 a share because the american taxpayer money was in the bailout. and that was something that was supported by the fed, by treasury because we felt that because the taxpayer was bailing them out, that the shareholders of bear stearns should not be held harmless. now, you have a different situation here, slightly different. a number of weeks later, where we...
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Feb 17, 2010
02/10
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we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the money market funds saved. if we have 3.5 trillion fun missile by 30 million people who on is and they might are worrying about whether they can get their money that was half of all the process held by u.s. banks at the time you have a panic. you had commercial paper frees up entirely in the biggest companies of the united states and some are described in this book that worried whether they were going to meet their payroll and a short period of time to read the sixth largest bank in the country in terms of the domestic deposits, washington mutual failed over a weekend. y
we had hank, ben bernanke tim geithner and sheila bair the head of the fdic. i know a lot of people in finance and a lot of people in business and government. and i can't think of for that would have done a better job of getting us through that. now it's kind of fashionable to look back and pick at one aspect or another of what was happening and our country's financial system froze up during that period. some of you in this room were at a party i was at in september of 2008, one to talk was the...
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Feb 25, 2010
02/10
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bernanke said yesterday that the job market remains weak even though the economy is recovering. there is some good economic news. everything from washing machines to airplanes jump 3d% in january and the second monthly increase in a row. >>> coca-cola is changing the way it does business. spending more than $12 million to buy the large bottler. from using independent bottlers to controlling the process. pepsi has recently moved in that direction, as well. >>> get this, a relative of burr nad madoff is changing her name. she is married to buernie's son mark. she filed court papers for herself and her two kids to drop the madoff name. she probably doesn't want that out there, robben . >> she just wants to leave the name alone. >> completely. she's still married. it's not that. it's just the name. >>> a teacher danceoff sounded like kind of a fun idea for a pep rally until it became a lap dance dance off. >>> one of the most taulked abot people at the olympics may be heading home. >>> if you're running late, you must not have signed up for my wake-up call yet. how does this work? f
bernanke said yesterday that the job market remains weak even though the economy is recovering. there is some good economic news. everything from washing machines to airplanes jump 3d% in january and the second monthly increase in a row. >>> coca-cola is changing the way it does business. spending more than $12 million to buy the large bottler. from using independent bottlers to controlling the process. pepsi has recently moved in that direction, as well. >>> get this, a...
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Feb 15, 2010
02/10
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presidential historian, rice university history professor and no stranger to the audience at c-span2, douglas bernanke -- douglas brinkley. thank you for joining us this morning. guest: good morning. thanks for having me. host: if president stay were a holiday celebrating just one president, it there or one president to honor, who would it be for you and why? guest: i think the original, george washington. remember presidents day began as washington's birthday in 1880 and subsequently evolved, 1971 was started getting this concept of presidents day morphing of washington and lincoln's birthday and then the idea of just celebrating the institute of the president and having school children learn each president and what they look like and memorize the names. but washington is, in my view, the person we need to be celebrating on presidents' day. he did something very extraordinary as our first president, he stepped down. he showed you could relinquish power. that we were not going to become a market. he could have stayed in for life terms because he was that popular but i think it was the beginning of the
presidential historian, rice university history professor and no stranger to the audience at c-span2, douglas bernanke -- douglas brinkley. thank you for joining us this morning. guest: good morning. thanks for having me. host: if president stay were a holiday celebrating just one president, it there or one president to honor, who would it be for you and why? guest: i think the original, george washington. remember presidents day began as washington's birthday in 1880 and subsequently evolved,...
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Feb 15, 2010
02/10
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presidential historian, rice university history professor and no stranger to the audience at c-span2, douglas bernanke -- douglas brinkley. thank you for joining us this morning. guest: good morning. thanks for having me. host: if president stay were a holiday celebrating just one president, it there or one president to honor, who would it be for you and why? guest: i think the original, george washington. remember presidents day began as washington's birthday in 1880 and subsequently evolved, 1971 was started getting this concept of presidents day morphing of washington and lincoln's birthday and then the idea of just celebrating the institute of the president and having school children learn each president and what they look like and memorize the names. but washington is, in my view, the person we need to be celebrating on presidents' day. he did something very extraordinary as our first president, he stepped down. he showed you could relinquish power. that we were not going to become a market. he could have stayed in for life terms because he was that popular but i think it was the beginning of the
presidential historian, rice university history professor and no stranger to the audience at c-span2, douglas bernanke -- douglas brinkley. thank you for joining us this morning. guest: good morning. thanks for having me. host: if president stay were a holiday celebrating just one president, it there or one president to honor, who would it be for you and why? guest: i think the original, george washington. remember presidents day began as washington's birthday in 1880 and subsequently evolved,...
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Feb 25, 2010
02/10
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. >>> well, fed chairman ben bernanke told congress wednesday that interest rates will remain low to support continued economic growth. >>> and the house is now set to vote on a jobs bill after the full senate passed the $15 billion measure on wednesday. >>> and just today after being released from a washington, d.c., hospital after suffering a heart attack, former vice president dick cheney is having coffee today with his former boss, president george w. bush. it is the first time the two have seen each other since they left office. >>> and a close call this week for an officer in michigan who was on the side of the road with a driver when another car came barreling towards him. he managed to jump to avoid being pinned, and amazingly, suffered only minor injuries. it is 7:15. let's head back now to matt, meredith, ann and al. >> all right, thanks, amy. >> seems like we've got just nasty weather across the whole continent. >> that's right. >> snowing and nasty in the northeast. >> but it just stopped here. >> and that's not the only place. we've got a storm system brewing right now,
. >>> well, fed chairman ben bernanke told congress wednesday that interest rates will remain low to support continued economic growth. >>> and the house is now set to vote on a jobs bill after the full senate passed the $15 billion measure on wednesday. >>> and just today after being released from a washington, d.c., hospital after suffering a heart attack, former vice president dick cheney is having coffee today with his former boss, president george w. bush. it is...